As a solution to the global credit crunch I would like Gordon Brown to consider the following for the G20 summit in April.  Instead of TARP, quantitiative easing as a solution,  why not consider working towards a global solution? This would entail a debt write off.  The way it would work is that world governemtns should be asked to compile their countries debt/credit exposure. An arrangement to compensate countries that would lose from the debt write off would haveto be agreed. 
New rules for a global financial structure would then need to be thrashed out.  The benefit of the debt write off is that the world economy can then grow from a fresh start,  without being burdened by bad debts,  bad banks etc.  

London summit can only address the fallout of the global financial crisis (GFC) but dont you think that to resolve the crisis it is absolutely necessary to neuter the 'toxic' assets?
Toxic assets are not the bad loans. Bad loans have been made in the past and the banking system has proven methods to deal with them. The toxic assets are the derivatives that propped up the bad loans and spread widely the fallout. Credit default securities on the massive scale that was circulated around the global banking system were very different from mortgage insurance of a single borrower (one to one relationship manageable within traditional banking systems). The cancer in the global financial system is these credit default securities. We now know they breached prudential care requirements, both on the part of the originator (inadequate disclosure) and on the part of the credit agencies (inadequate examination to accord those high rating values).

There is now enough evidence for the US administration to declare these 'credit default securities' null and void. The originators of these securities must be asked to un-wind them. This means the parties who were paid credit default cover premiums should pay back those monies. This is a major improvement for the affected financial institutions since the small payment of the premium clears a very large potential liability from their balance sheets. Affected financial institutions are continuing to sell assets to repair balance sheets and in the process destroying the value of their remaining assets (shares, bonds, loan liabilities, etc) and the asset values of other financial institutions. It is a spiral, the more value is destroyed the more the credit default exposure.
Will you speak to the US administration to rectify the problem their financial wizards created, by taking appropriate action to ban of the toxic derivatives behind the GFC?